Former Fed Adviser Arrested for Alleged Economic Espionage to China

John Harold Rogers, a former senior adviser at the U.S. Federal Reserve, has been arrested and indicted for allegedly conspiring to steal sensitive trade secrets for the benefit of China. From 2010 to 2021, Rogers is accused of sharing confidential economic information with individuals linked to Chinese intelligence, masquerading as graduate students to gain access to sensitive data. The Justice Department claims that the information could allow China to manipulate U.S. markets, akin to insider trading, potentially providing them with a strategic economic advantage. Rogers allegedly received compensation for his actions, including payments covering travel and living expenses during visits to China, where he also worked as a part-time professor. Authorities emphasize that this case highlights the increasing threat of economic espionage targeting U.S. institutions. If convicted, Rogers could face up to 15 years in prison for conspiracy to commit economic espionage.